AdvertisementTop banner · 970×90 / 728×90

Business

Construction of SGR Line between Naivasha and Kisumu to Cost Kenyans Sh380 Billion

The construction of Standard Gauge Railway (SGR) line between Naivasha Kisumu will cost Kenyans Sh380 billion, a State House operative has revealed. The cost is Sh53 billion more than the Sh327 billion used to complet…

Aug 18, 2018

Business

Multi-Billion Shilling High-End Office Block - 14 Riverside in Nairobi's Westlands Area to Be Demolished

The multi-billion shilling exclusive office block, 14 Riverside in Nairobi's Westlands area is set to be the next victim of the ongoing crackdown on buildings sitting on riparian land in Nairobi. Julius Wanjau, who is…

Aug 17, 2018

Business

Equity Group Announces Sh11 Billion Six-Month Profit

Equity Group has posted Sh11 billion profit for the first six months of 2018, an increase by 18 percent from the Sh9.4 billion recorded in the same period last year. The good performance was driven by Euity's trading…

Aug 16, 2018

Business

Gov't Approves Construction of Sh4.1 Billion Cable Car in Mombasa

The government has approved the construction of Sh4.1 billion cable car to ferry people between Mombasa Island and the mainland. The project being undertaken jointly by a Kenyan and an Austrian company was okayed duri…

Aug 16, 2018

Business

Kenya Airways Strikes Code Sharing Deal with Delta Airlines

Kenya Airways (KQ) has struck a code sharing partnership with Delta Airlines. Under the deal, Kenya Airways will embed Delta Airlines Code NYSE: DAL on its fleet of aircraft plying Amsterdam, Paris, London, and Accra…

Aug 16, 2018

AdvertisementIn-feed ad

Business

KICC Stares at Auctioning over Sh500 Million Debt

Kenyatta International Convention Centre (KICC), one of Kenya’s most popular conference facilities, is at risk of being auctioned over a debt of more than Sh500 million. The Standard reports that incensed companies ha…

Aug 12, 2018

Business

Fight for Njenga Karume's Multi-Billion Shilling Empire Takes New Front

The scramble for former Cabinet Minister Njenga Karume's multi-billion shilling estate is set to take a fresh twist in a tussle pitting his children and trustees. The latest tussle has been sparked by an advertisement…

Aug 12, 2018

Business

Nakumatt Founder Atul Shah Loses Sh125 Million after Demolition of Nairobi’s Ukay Mall

Nakumatt founder Atul Shah says he lost at least Sh125 million following the demolition of Ukay Centre in Nairobi's Westlands area on Friday morning. Atul, who watched the bulldozer flatten the building that housed Na…

Aug 11, 2018

Business

East Africa's First Ever Full Electric Cab, Nopia Ride Launched in Nairobi

Kenyans can now ride on electric-powered cars after EkoRent, a Finland company dealing in electric mobility unveiled full electric cabs in Nairobi. The company launched Nopia ride at the Two Rivers Mall in Ruaka on Th…

Aug 10, 2018

Business

Safaricom Pays CEO Bob Collymore Over Half a Million Shillings Per Day

Safaricom Chief Executive Officer (CEO) Bob Collymore pocketed about Sh540,000 per day in remuneration, the company's annual report has revealed. The yearly report from Safaricom's financial year ending March, 2018 sh…

Aug 8, 2018

Business

US Firm Gets Authority to Acquire Telkom Kenya's 723 Telecommunication Towers

American Tower Corporation (ATC) has received the go-ahead for acquisition of more than 700 telecommunications towers from Telkom Kenya. ATC received the nod from the Competition Authority of Kenya (CAK) for acquisiti…

Aug 3, 2018

Business

New Email Scam Targets PayPal Users

A new email scam targeting PayPal users has hit the internet, leaving customers at risk of losing their cash. The malicious email is crafted to appear like an official communication from PayPal's address ‘service@payp…

Aug 2, 2018

AdvertisementIn-feed ad

Business

Nairobi Governor Mike Sonko Shuts Down Chandarana Foodplus Outlets over Racism Claims

Nairobi Governor Mike Sonko has ordered the cancellation of licenses for all Chandarana Foodplus supermarkets in the city. Sonko announced the shutdown of the chain retailer following claims of racial bias that have s…

Jul 30, 2018

Business

US Steps Up Investment in Kenya Amid Competition from China

Investments in Kenya by the United States have increased in the past few months, entries in the American business deal book in Kenya shows. The increased investment shows US's renewed efforts to reclaim its financial…

Jul 30, 2018

Business

Reprieve for 50,000 Ekeza Sacco Members, including 5,000 in the Diaspora, as License is Reinstated

Government has reinstated the operation license to Ekeza Sacco following a ban that lasted for four months. The Sacco was shutdown through a gazette notice issued by Commissioner for Co-operative Development Mary Mung…

Jul 28, 2018

Business

Kenya Airways Acquires World's Fastest Passenger Jet

Kenya Airways has acquired the 'world's fastest and most efficient' passenger jet, Embraer E190-E2 from Brazilian aircraft maker Embraer S.A. The latest acquisition adds to KQ's existing fleet of Embraer 190, making…

Jul 27, 2018

Business

Nairobi Traders Protest Influx of Chinese Vendors in the City Center

The influx of Chinese nationals into local businesses has infuriated Kenyan small traders and importers. The traders now say the unregulated entry of the foreigners into Nairobi retail scene has affected their busines…

Jul 27, 2018

Business

Kenyan Tech Startup Bags Sh5 Million Prize in Visa Competition

Mookh Africa, a Kenyan online selling platform has bagged Sh5 million after becoming the overall winner of Visa’s funding competition for tech startups in Africa. The competition, dubbed "Everywhere", is a global ini…

Jul 26, 2018

Business

Kenya's Foreign Currency Deposits Cross Sh500 Billion Mark for the First Time

Kenya's foreign currency deposits in local banks has hit an all-time record of more than 500 billion shillings. The rise in the foreign currency deposits is largely attributed to Kenyans taking advantage of the tax am…

Jul 26, 2018

Business

Sh200 Million Stashed in Foreign Accounts By Kenyans Frozen

Swiss authorities have reportedly frozen more than $2 million (Sh201 million) suspected to be proceeds of corruption in Kenya. The cash is part of the more than Sh96 billion allegedly stashed in Swiss bank accounts by…

Jul 25, 2018